Falcao's Chelsea loan to be cancelled, Odion Ighalo to Manchester United

The winter window opened on Jan. 2, and, as always, Transfer Talk has its finger on the pulse when it comes to all the latest rumours and gossip. See all the latest deals here.

TOP STORY: Falcao loan to end, Odion Ighalo to join United

Radamel Falcao's loan deal at Chelsea is to be cancelled, according to reports in the Daily Telegraph. The Colombian striker has scored just seven goals since the start of the 2014-15 season and this included a season at Manchester United where he was earning £265,000-a-week. His next club? Somewhere in the MLS, apparently.

Odion Ighalo's name is coming up more and more with regards to transfer talk, and it's no surprise given his superb form so far this season. The Nigerian international has hit 14 league goals and assisted in a further five, attracting attention from some of Europe's biggest clubs including Atletico Madrid and Roma.

LIVE BLOG:

22.57 GMT: That's going to do it for another live edition of Transfer Talk. Thanks very much for joining us, and please check back in just a few hours when we return with all the latest gossip from Friday's back pages.

22.43 GMT: One of Chelsea's armada of players out on loan has joined up with another side outside of West London. Brazillian Wallace has left Carpi to return to his homeland with Gremio, according to the Star, for an 18-month loan.

22.28 GMT: Adriano Galliani may have said that AC Milan aren't in the market for Manchester United midfielder Marouane Fellaini, but that hasn't stopped Italian outlet Gazzetta dello Sport from reporting that Milan, Juventus and Roma are all interested in bringing the Belgian to Serie A. The report states that United have already declined offers for a loan, but that a permanent deal worth upward of €16 million could interest those at Old Trafford.

21.36 GMT: Liverpool are closing in on the signing of 24-year-old Schalke centre-back Joel Matip, reports the Express.

21.11 GMT: Juventus are sounding out Manchester United over signing Spaniard Ander Herrera, reports the Telegraph. The Bianconeri are reportedly interested at £25 million, but United are allegedly holding out for nearer to £40m.

20.49 GMT: Arsenal have reportedly opened the bidding for Borussia Dortmund striker Pierre-Emerick Aubameyang with a £44 million offer, reports the Daily Mail, but the German giants are reported to be holding out for closer to £60m.

20.27 GMT: After a flood of bets, Betfair have cut the odds on Manchester United landing Real Madrid attacker Gareth Bale from 6-1 to 5-2, reports the Star.

20.04 GMT: Ronald Koeman has reemphasised that Southampton attacker Saido Mane is not for sale.

19.41 GMT: Chelsea are not giving up their fight in the chase for Pep Guardiola, and according to quotes in the Star, there might be good reason for that.

"[Manchester] City think they have got him, but Chelsea are still very much in the running," a source close to Guardiola is quoted as saying in the Star.

19.19 GMT:DONE DEAL Coventry City have confirmed the permanent signing of former England international Joe Cole on a permanent transfer from Aston Villa after spending the first half of this season at the Ricoh Arena.

18.54 GMT: With Manchester City's Kelechi Iheanacho searching for first-team minutes at the Etihad and injury-hit West Ham short on strikers, the Nigerian may well make the trip down to the Boleyn Ground on loan, reports the Brentwood Gazette.

18.22 GMT:DONE DEAL Los Angeles Football Club not only unveiled their new crest ahead of joining MLS in 2018, but the club also announced Will Ferrell as a co-owner. Ferrell's last meaningful contribution to football came in 2005, when he famously coached the Tigers to a league championship win over the Gladiators in 2005's Kicking & Screaming.

17.55 GMT: Everton's Romeu Lukaku is on Manchester United's radar again, with The Mirror reporting that Louis van Gaal could bid for the 22-year-old striker either later this month or during the summer.

17.44 GMT: Mark Hughes is confident the club's ongoing contract talks with Marko Arnautovic will result in an agreement being reached despite Paris Saint-Germain showing interest in signing the player. Read the full story here.

17.34 GMT: Tottenham are debating as to whether or not they should make another attempt for West Brom striker Saido Berahino this month, according to The Evening Standard. They are said to be wary about unsettling the strong harmony that is currently within the group.

17.20 GMT: After a decade in Houston with the Dynamo, Brad Davis has accepted a trade to Sporting Kansas City. Davis had been with the Dynamo since the MLS club's inception in 2005 and is the team's all-time leader in games and assists. Read the full story here.

17.13 GMT:DONE DEAL And it's now official, Brighton have signed former Leicester City midfielder Anthony Knockaert from Standard Liege.

16.40 GMT: Enjoying the latest transfer rumours? Don't forget you can make transfers of your own by selecting your squad for the new segment of our Premier League fantasy game. Existing managers need to pick their new squads, and we're open for new managers too. Full details here.

16.32 GMT: Liverpool look set to make a club record bid for Borussia Monchengladbach midfielder Granit Xhaka, according to The Express. The Swiss midfielder has played 39 times for his country and signed for Mochengladbach for €8.5 from Basel back in 2012.

15.30 GMT: According to The Stoke Sentinel, Mark Hughes refused to rule out a move for Porto midfielder Gianelli Imbula. The name was mentioned at Hughes during his press conference ahead of Saturday's third-round FA Cup trip to Doncaster.

12.55 GMT: Talks between Leicester City midfielder Gokhan Inler and FC Schalke have stalled, the German club's coach Andre Breitenreiter has said. Read the full story here.

12.41 GMT: According to The Daily Mail, Aston Villa are in for Lyon striker Claudio Beauvue. The striker joined the French side in the summer after impressing for fellow Ligue 1 outfit Guingamp, scoring a total of 17 goals last season. The potential transfer fee is likely to be in the region of £4m.

12.26 GMT: Real Madrid are said to be tracking Hatem Ben Arfa's progressand the Frenchmanis keen to work under Real Madrid boss Zinedine Zidane. Read the full story here.

12.11 GMT: Radamel Falcao's loan deal at Chelsea is to be cancelled, according to reports. The Colombian striker has scored just seven goals since the start of the 2014/15 season and this included a season at Manchester United where he was earning £265,000 a week. His next club? Somewhere in the MLS, apparently.

11.55 GMT: Manchester United are loaning Ashley Fletcher to Barnsley, according to The Sheffield Star. The striker is expected to join on a one-month deal.

11.42 GMT: Jamie Vardy and Dele Alli's performances this season prove there is quality below the Premier League, according to Peterborough chairman Darragh MacAnthony. Should more clubs take risks on players from lower leagues? Read the full story here.

11.28 GMT: Liverpool have recalled Sheyi Ojo from his loan spell at Wolves. He made 19 appearances and scored three goals for the club.

Wolves would like to thank @sheyi_ojo and wish him all the very best for the future.

11.12 GMT: Andy Carroll's staying put, according to Hammers boss Slaven Bilic. The former Liverpool striker has scored in his last two games which has inevitably attracted attention, but West Ham aren't looking to sell. "The club are not willing to listen to offers," Bilic said.

11.00 GMT: "We're looking for a solution, he will leave in this market," Jonathan De Guzman's agent Fabio Parisi told Italian radio station Radio Crc.

The Napoli midfielder has fallen out of favour under manager Maurizo Sarri and is yet to make an appearance for the Serie A outfit. Aston Villa and Bournemouth are both said to be interested.

10. 46 GMT: Watford to sell Troy Deeney to Arsenal? Not happening. The Daily Star were reporting this week that the Gunners were preparing a £20m bid, but the 27-year-old's already squashed that rumour...

10.35 GMT: Joe Allen doesn't know how much longer he'll be at Liverpool, admitting he's playing for his long-term future at the club. The Wales international has made just one Premier League start this season and contract discussions -- which began last March -- have currently been put on hold.

"That is something which has gone very quiet so I am not too sure really," he told This Is Anfield of talks over his contract, which expires in 2017.

10.23 GMT:Eden Hazard will not commit his future to Chelsea until the next manager is chosen, according to The Sun and FOX Sports. The Belgian attacker has been surrounded by controversy over recent months, with PSG and Real Madrid both said to be interested.

10.12 GMT: Inter Milan defender Andrea Ranocchia has agreed to join Liverpool, according to Tuttomercatoweb. The Reds are in need of defensive reinforcements after Mahmadou Sakho, Dejan Lovren and Martin Skrtel have all fallen to injury in recent weeks.

09.07 GMT: Central Coast Mariners playmaker Anthony Caceres looks set to become Manchester City's surprise first signing of the January transfer window after his club confirmed an approach from the Premier League side.

08.36 GMT: Liverpool defender Kolo Tourehas said he wants to remain in the Premier League even if his contract is not extended at Anfield, while joking he could join Real Madrid.

With his contract due to expire in the summer, Toure said in the Daily Mirror: "If I can play like that [at Stoke] then maybe I will go to Real Madrid!"

08.14 GMT: Bayer Leverkusen striker Javier "Chicharito" Hernandez said his Bundesliga form this season is the result of regular opportunities to play, something he was lacking in recent seasons at Manchester United and Real Madrid.

PAPER ROUND

Messi and Pogba to join Pep at Man City

Meanwhile, Manchester City may not be making many impressive January moves, but they're certainly planning for the future. With Pep Guardiola keen on a Premier League job this summer, The Sun suggests City will tempt the Catalan coach with the challenge of making them "the biggest on the planet." How will they do that? With money, and lots of it.

City will reportedly look to build around Lionel Messi, who won it all with Guardiola at Barcelona. As well as the Blaugrana talisman, City will be after Messi's Camp Nou teammate Gerard Pique, Juventus midfielder Paul Pogba and Bayern Munich all-rounder David Alaba.

Bale and Ronaldo both leaving Real?

Eden Hazard and Gareth Bale are just two of the big names that could swap clubs this summer, though Cristiano Ronaldo also looks set to be thrown into the transfer mixer as well. The Mail reports that Belgian attacker Hazard "has told close friends" that he wants to leave Chelsea, but will not be sold this month. According to the paper, Paris Saint-Germain are favourites for the Stamford Bridge winger's signature, but Bayern Munich and Real Madrid -- now coached by Hazard admirer Zinedine Zidane -- are also involved.

As for Bale, The Sun reports that no fewer than four "European superpowers" want to take the 26-year-old Wales winger away from the Bernabeu with Chelsea, Man United, PSG and Bayern having made enquiries -- but the fee would be around £120m.

And though Madrid selling Ronaldo still seems unthinkable given his goal record, the Telegraph suggests the Portuguese forward is expected to leave the Spanish capital this summer and move to either PSG or a Premier League club.

Mane merry-go-round continues

Manchester United may want Sadio Mane this month, but a source close to the club has told ESPN FC that Southampton have no plans to sell the attacker in the January transfer window, despite Mane, 23, being left out of the starting line-up for last weekend's 1-0 defeat to Norwich for missing a team meeting. As a possible result of that rebuttal, United have asked Borussia Dortmund to cancel their season-long loan deal for Adnan Januzaj,according to ESPN FC sources.

The Belgium international has made just five appearances for Dortmund, and United have been disappointed with Januzaj's lack of involvement at the Westfalenstadion. As for Marouane Fellaini? The Mirror reports that while Van Gaal initially turned down an advance for the Belgian from AC Milan, the Dutch coach is "prepared to rip up his Plan B" and entertain offers.

And while Van Gaal remains in his job, the Mail reports that Ed Woodward "sounded out Carlo Ancelotti over the possibility of a summer move to Old Trafford" before the Italian opted for Bayern.

Dele Alli's success at White Hart Lane is a blessing and a curse for Spurs.

Spurs starlet set for new deal

Dele Alli's sensational form for Tottenham this season is both a blessing and a curse for Spurs: with each impressive performance, the line of suitors will grow and grow, as will the midfielder's expectations. The Mirror reports that despite the 19-year-old only fully joining Mauricio Pochettino's side from MK Dons last summer, Spurs are prepared to offer the starlet a "lucrative" new contract which would see his current £10,000-a-week deal "at least double."

The Star reports that his current salary stands at £12,500 a week and would rise to £25,000, but at this point we're splitting hairs -- it's clear Spurs are going to look to tie Alli down to a new long-term deal. Given that they reportedly beat Bayern to the midfielder's signature the first time round, Europe's elite clubs may come calling again.

Drogba leads MLS transfer talk

There's hope yet for Montreal Impact fans -- star striker Didier Drogbasays he has yet to decide his future, despite a report in French paper L'Equipe claiming he will leave the MLS franchise to return to Chelsea as a member of Guus Hiddink's coaching staff.

Lovely to receive these messages but I have not yet announced my retirement & am still in discussion with @impactmontreal about my future.

Klopp shoring up defence

With Liverpool facing the prospect of having no fit centre-backs for Friday's FA Cup tie against Exeter, the Mirror reports that Jurgen Klopp is talking to former club Dortmund to loan them defender Neven Subotic. The paper suggests talks over Subotic are currently stuck, so Liverpool are also discussing a loan move for Italy international Andrea Ranocchia from Inter Milan.

And while Liverpool are being linked with goalkeepers every day despite Klopp's insistence that he's happy with Simon Mignolet, Koln goalkeeper Timo Horn is fairly certain he won't be heading to Anfield this month. He said on the club's website: "Jurgen Klopp has already said it all. There are no concrete offers and it's not something I'm worrying myself with."

The Reds may instead target one for the future, with the Guardian reporting that Klopp is after 16-year-old Polish keeper Kamil Grabara -- the youngster has had trials with Man United and City, but has "agreed a move to Anfield for an initial £250,000."

TAP-INS:

- One January rumour that may surprise Central Coast Mariners fans is Fox Sports reporting that Man City are on the verge of a "shock move" for Anthony Caceres, with the 23-year-old playmaker set to leave the A-League for the Premier League title chasers.

- And so it begins ... Marko Arnautovic has been linked with a move to Paris Saint-Germain in recent weeks, and the Guardian reports that the Austrian forward has rejected Stoke's opening offer of a new contract.